Chief executive officer of the BSE Marlon Yarde says the way has been cleared for the start of a regional stock exchange. (SP)

LIFE IS BEING PUMPED into the Caribbean Exchange Network (CXN) as regional securities regulators mull over documents that will guide its operation.

CXN would pull the capital markets of Barbados, Jamaica and Trinidad and Tobago into a single operation and is expected to increase trading activity in the region.

Chief executive officer of the Barbados Stock Exchange, Marlon Yarde told BARBADOS BUSINESS AUTHORITY, "The main inhibitor is just getting the document finalised".

"We [stock exchanges] have made changes to . . . the rules and various agreements between the parties [and] resubmitted them to the regulators for their review and approval. It is important that the documents be approved by regulators in the three jurisdictions because at the end of the day, regulation of the market is going to be crucial to the success of the CXN," Yarde added.

He pointed out that the technological infrastructure was already in place for CXN's start-up and "I would like to think that we could get it up and rolling before the first quarter of 2008".

However, local Securities Commission general manager Virginia Mapp said documents had been circulated two weeks ago but no date had been set for a meeting on the issue. (SR)